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"Gross income to be used for a mortgage..."

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You are actually asking 2 questions. What you can qualify for (the amount that the bank will give you) and what you can actually afford.
Yes, banks will give you up to 32% of your gross income to be used for a mortgage. In fact VA will go up to 40%. This means that under a VA loan, you could actually have a monthly payment of $1,766 a month.
I highly suggest that you don`t spend more then 25% MAX of your gross monthly income for your total payment.
For example:
53,000 (/) 12 months = 4,420 a month
4,420 (x) .25% = 1,104 for your total payment
1,104 (-) 270 (for taxes, PMI, insurance) = 834 for the loan
at 6% 30 year fixed rate you could get a 140,000 to 150,000 mortgage.
Add your down payment to this. If doing FHA, you need 3% or 4,500. This means you should be looking at homes priced in the 155,000 MAX range (or less!!!).
You will also need closing costs of around 3,500 (unless you can get the seller to pay). Total cash needed is 4,500 to 8,000.
You don`t want to be house poor. You NEED to be saving at least 10% of your gross income. This means that you should be saving around 500 a month. EVERY MONTH.
DON`T BE HOUSE POOR.

"You can probably afford a house in the $150,000-175,000 range ($120,000 - 140,000 mortgage..."

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How much have you saved for a down payment? At least 20%? Plus you need closing costs and 3 - 6 months of reserves. Credit score over 700. At least 3 years track record on the job. With all that, you can probably afford a house in the $150,000-175,000 range ($120,000 - 140,000 mortgage), which is well below median house price in the US. Except for one big glitch.
With 4 preschool kids, you need to be saving $100/month per child in a 529 college savings plan, plus another $100/month per child in savings. Total = $800/month. This is critical to their future! And it should have been saved up at this rate starting when they were born. So if you don`t have these accounts built up properly, you have catching up to do already. Put it off another year, and you are in big trouble. Why? Just plain too many kids for your income, and education expenses are skyrocketing. You are going to have great need of that money sooner than you can imagine. Start saving up - for the kids and for the house. Eliminate every non-essential expense or you are in terrible trouble very soon.

"The high end of what you can afford you should multiply your annual income..."

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As a general rule to work out the high end of what you can afford you should multiply your annual income by 3.5. In your case this means you should be able to afford a home of value $290,000. It is best for you to save 20% of the mortgage as a down payment otherwise you will need to take out insurance at the banks request. Since you are only making a $10,000 down payment you will definitely be required to get this insurance since this is only a 4% down payment. I. you need to save $28000 or $38000 more. With this down payment you will still need to borrow $206000. your monthly mortgage payment is going to be $768. Making $38,000 means you are making about $3145 a month.

"If you earning 90000 salary and want to afford a house..."

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If you earning 90000 salary and want to afford a house then it depends on you that how much luxury house you want to buy.Before you purchase, you should be maxing out your 401k saving at least 10% or 750 a month. With that said, here are the numbers.
90000 a year = 7500 a month. Using 25% of your gross income for housing, this would out to a TOTAL PAYMENT of = 1875 a month,with a 1875 payment (-) taxes, insurance, PMI and condo fee, you are left with 1475 a month for the actual loan. At 5%, 30 year fixed, this would allow you a mortgage of $283,000 plus you down payment.I hope my answer will help you a lot.

"If your monthly salary is $70,000 you can afford mortage..."

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Your 92,000 is which currency? and also its a annual basis or monthly basis? how ever if we think its $92,000annual basis. then your housing ratio is 28%-33% how ever if we got it as 28% then your monthly basic is $1000 your housing ratio is $280. if your monthly salary is $70,000 you can afford mortage basis on your house and your expenditure. i think it is easy for you to take an amount of 70,000.

Monthly payments are the size and term of the loan.Size is basically the amount of money borrowed and term is the lenght within which the loan is fully paid back For 75,000 annual saving you must have an etrm of thirty years So that you can easily give the required monthly amount including the interest rate of the borrowed amount i think it is easy for you to take an amount of 250,000.

Your question is confused.because is your 12000 is which currency?and also its a annual basis or monthly basis.?how ever if we think its $12,000 annual basis.then your housing ratio is 28%-33% how ever if we got it as 28% then your monthly basic is $1000 your housing ratio is $280.according to housing ratio if the term is 30years then your loan amount is $100,800.

"Then $250,000 is best in purchase a house in usa..."

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First of all you have to mention your 60,000 salary in which currency and its monthly or yearly. and then the house`s condition is depends on your family and area that which area you selected to buy a house. if you save $40,000 fer year then $250,000 is best in purchase a house in USA. and also have a option of bank loan in this salary amount.

"Then $250,000 is best in purchase a house in usa..."

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First of all you have to mention your $88,000 salary is monthly or yearly. and then the house`s condition is depends on your family and area that which area you selected to buy a house. if you save $70,000 fer year then $250,000 is best in purchase a house in USA. and also have a option of bank loan in this salary amount.

"Accept credit card and paypal
good news..."

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Accept credit card and paypal
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